UNCP Receives Check from Treasurer Moore

University of North Carolina at Pembroke Chancellor Dr. Allen Meadors received a check and some great news recently from State Treasurer Richard Moore.

Treasurer Moore presented UNCP with a blown up check in the amount of $460,665, representative of the amount of money that students received last year in the form of grant money. Moore also promised that students would receive more money this year.

"This is one of the best parts of my job. Not only do I give people their unclaimed property back, I also get to give the interest earnings to needy and worthy North Carolina college students," Moore said.

UNCP Chancellor Allen C. Meadors said the increased scholarship money from this fund is welcome.

"Our students need and appreciate this scholarship money," Chancellor Meadors said. "This type of scholarship money really helps our students make ends meet."

Moore, as administrator of the State Unclaimed Property funds, invests the holdings within the Unclaimed Property fund and then transfers the interest earnings to the North Carolina State Education Assistance Authority (SEAA). SEAA then divides the money among the state's public universities, colleges and community colleges in the form of student grant money. This money goes to help students who would have to incur loans in order to pay for college.

With $580 million in unclaimed property Treasurer Moore was able to send $36 million in interest earnings to the SEAA this year, the largest amount ever transferred.

UNCP faculty and students were not the only ones happy about the money from the state. Steven Brooks, Executive Director for SEAA, also expressed delight about Treasurer Moore's announcement.

"Treasurer Moore has done an outstanding job encouraging business to turn in unclaimed property to the state. Because of his efforts we are receiving our largest check ever that will go toward grants for North Carolina's college students," Brooks said.

Through the Unclaimed Property Program (Escheats Fund), Treasurer Moore works to recover unclaimed or forgotten property and to reunite these properties with the rightful owners.

The Unclaimed Property Program includes abandoned money - such as bank accounts, contents of safety deposit boxes and checks - that have not been closed or cashed. Those responsible for the money try to locate the owners, and if unsuccessful after three years turn over the property to the Department of the State Treasurer.

Through an online database, people can search by last name or city to see if the State has unclaimed property belonging to them. This is a free service provided by the State, and there is no deadline for filing a claim.

In 2002, the State refunded more than $14.7 million in unclaimed property to the rightful owners.

For more information about Unclaimed Property visit www.treasurer.state.nc.us or call Leah Anne Rice at 919.508.1025.

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